Nielsen Business Media President Greg Farrar Quits

Just a few weeks after selling
off Nielsen’s leading trade publications, president Greg Farrar
is leaving the company.

Last month, Nielsen Business Media
sold eight of its trade brand titles, including
Billboard, BrandWeek/AdWeek/MediaWeek and
The Hollywood Reporter, to e5 Global Media, a new
company formed jointly by Pluribus Capital Management and
Guggenheim Partners. Editor & Publisher was
shuttered and then recently picked
up by Duncan McIntosh.

"Having managed the trade show business through the economic
downturn while also divesting some of the publications, Greg
feels he has accomplished his goals at Nielsen and decided it is
the right time to seek greater opportunities," a Nielsen
spokesperson sent to the media.

Farrar will remain with the company for a "transition period" and
advise the company's remaining publishing assets not associated
with a trade show. After that, Andy Bilbao, senior vice president
of brand media, will oversee those publications while the company
evaluates "strategic alternatives."

Through the first nine months of 2009, Nielsen reported a $151
million operating loss for its business media segment, compared
to an $85 million operating income during the same period in
2008. Revenues for the segment through the third quarter were
$258 million, down more than 30 percent from $371 million during
the same period last year.